Strategy Inc. (NASDAQ:MSTR) CEO Phong Le on Tuesday defended the company’s decision to sell roughly 7,000 Bitcoin (CRYPTO: BTC) near the market’s lows.

Did BTC’s Drop Drive Strategy Buying?

Le called the sale "minuscule" in a Bloomberg Crypto interview on Sep. 1, while signaling Strategy could keep buying even if Bitcoin reaches $100,000, $130,000 or higher.

He stressed that Strategy’s decision to sell Bitcoin is not driven by BTC’s price, but by the company’s cost of capital and broader balance-sheet management.

"It was the right trade at the time to sell Bitcoin to fund some of our stretch dividends," Le said. "It’s the right trade at this point in time to sell MSTR at a premium to buy Bitcoin."

During its roughly 10-week purchasing pause, Strategy sold about 7,000 BTC to fund preferred dividends and buybacks.

Le highlighted that the amount represented less than 1% of Strategy’s Bitcoin holdings, while its overall BTC position has increased roughly 30% this year.

Is Strategy A ‘One-Way Accumulator?’

Strategy has shifted from a "one-way accumulator" to a flexible two-way approach, enable it to trade Bitcoin, common stock and preferred securities depending on market conditions and financing costs.

Le said the company strengthened its balance sheet over the past two months. Assets jumped 34% to around $72 billion while cutting net debt from $7 billion to zero.

Despite the added flexibility,Strategy remains a net Bitcoin buyer and expects to keep accumulating through a bull market.

"We’ll be buying Bitcoin at $80,000. We’ll likely be buying Bitcoin at $90,000, at $100,000," Le said. He argued that purchases appearing expensive today may look cheap if Bitcoin eventually reaches $260,000.

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